Jim Cramer notes large selling of Palantir and Apple despite earnings beats
Jim Cramer highlights an unnamed large holder selling Palantir and Apple shares after positive earnings reports.
Jim Cramer observed that an unidentified large investor is selling shares of Palantir and Apple following both companies surpassing earnings expectations, according to 247wallst.com.
Despite beating earnings estimates, Palantir's stock fell approximately 4% and Apple’s dropped about 3% amid this post-earnings selling pressure.
Palantir trades at roughly 252 times trailing earnings, even though its total contract value increased by only 6%, raising questions about the stock's valuation.
Apple projected a December-quarter gross margin between 45% and 46%, down from 47.9%, and described memory pricing as 'unprecedented,' which could limit upside despite trading at about 44 times earnings.
247wallst.com also noted that Apple was not included in a recent list of the ten best stocks to buy, according to their analysts.
Cramer’s cryptic commentary and a mysterious song lyric at the end of his message may provide guidance for investors on how to interpret these developments.
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